Hi Guys,
Jerry Buss passed on February 18, 2013.
To most of the United States, Jerry Buss was simply the wealthy owner of the Los Angeles Laker professional basketball franchise. To some of us living in Southern California, he was so much more.
Yes, it is well known that Doctor Buss (he earned that title by completing a Ph.D. in physical chemistry at USC and liked being called doctor) was the hugely successful owner and active front-office of that famed organization.
What is less well known is that Doctor Buss made the fortune that enabled his several sports world adventures with his real estate business prowess. He purchased both mundane apartments and famous Hollywood star mansions in the 1960s and 1970s.
What is even far less well known is that he worked as a scientist at TRW (absorbed by Northrop Grumman) preceding his real estate trading. And therein rests a story that reveals the very special qualities of this fine gentleman. It’s a story well worth telling.
While working at TRW, Doctor Buss dabbled in the electric Los Angeles area real estate marketplace. His success motivated him to leave TRW, but he remained in contact with members of his old department. He volunteered to invest for these guys and a few fortunate fellows took advantage of the opportunity. The payoffs were huge, but that’s not the crux of the story.
Many years pass, and the relationships mature. Even after purchasing the Laker team, Buss continues to schedule an annual meeting with each participating member of his old TRW teammates. They annually lunch at the Forum ( the Laker’s home court facility) and review their portfolios with Buss. Doctor Buss is always a gracious host and gladly spends his valuable time and shares his investment acumen with them.
I applaud such loyalty and commitment to a lasting friendship. Doctor Buss will be greatly missed in our community.
No, I was not smart enough to be one of the fortunate few.
Best Regards.
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